1st First Time Home Buyer Tips & Advice 2014


1st First Time Home Buyer Tips 2014
Resource: http://elpasorealestatenow.com

2014 Fannie Mae and Freddie Mac, the nations leading mortgage buyers, issued announcements they will allow loans for primary residences as low as 3% down. What does this mean for buyers? With 97% financing these new loans will allow home buyers that need a little bit of help to become homeowners. read more at Http://elpasorealestatenow.com

Before looking at any home ASK your REALTORĀ® for his/her preferred local lenders. Your REALTORĀ®, if they have experience, will know who the top lenders are. I’ve seen many buyers who were declined by a new home builder’s lender or a National lender only to qualify with one of my preferred mortgage companies. Secondly, LISTEN, LISTEN, LISTEN to your mortgage broker. This is hard to do in the exuberance of buying a new home. Your mortgage broker needs to present the best picture of your finances to the underwriter which means explaining every nuance of your credit history. Initially, the loan officer will per-qualify you by looking at your income and credit. This can and does happen fairly quickly (within hours). Once the lender pre-qualifies you contact me and we will find you the right home to negotiate. Once you select a home and I negotiate the terms on a contract to purchase the lender will be provided a copy of the contract so that they can continue the underwriting process. Read more at htt://elpasorealestatenow.com
or Call 873-8646

Resources:

First Time Home Buyer Programs:
http://www.elpasorealestatenow.com
http://www.russell-realtor.com/first-time-home-buyer-in-el-paso.html

The loan process:
http://www.elpasorealestatenow.com
http://www.russell-realtor.com/pre-qualification-process.html

What not to do after you apply for a mortgage:
http://www.elpasorealestatenow.com

Leave a Reply

Your email address will not be published. Required fields are marked *